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Author Topic: If USD falls  (Read 12023 times)
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May 21, 2017, 07:56:49 AM
 #21

Like many powerful currencies in the past, USD may fall to ground too, my question is will that effect BTC value? Or is it independent of all other real world or non digital currencies of the world?
In past, we have observed the economic instability of any country (like Greece faced) will be always influencing into bitcoin ecosystem positively. This is because people will be moving their savings into bitcoin because their fiat may lose buying power over time. Other than this, when dollars find weakness, investors and traders will be moving their investments out of dollars into alternative investment like gold, silver and with the new addition of this list, bitcoins.
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May 21, 2017, 08:00:59 AM
 #22

Actually is not going to affect bitcoin at all, but it will seems like bitcoin become more expensive in dollar, we only used dollar as the exchange rate, if we change it to other currency then it won't affect bitcoin at all, fiat won't have any effect on bitcoin


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May 21, 2017, 08:16:58 AM
 #23

Actually is not going to affect bitcoin at all, but it will seems like bitcoin become more expensive in dollar, we only used dollar as the exchange rate, if we change it to other currency then it won't affect bitcoin at all, fiat won't have any effect on bitcoin

But indirectly it can affect Bitcoin since the USD roots deeply especially in a global scale. With the countries and people who are associated deeply in USD will affect them and the market. It is not the Bitcoin who is not directly hit but the people who are using it and some of these people use, buy, and sell Bitcoin hence with the hit on their financial life it will affect Bitcoin which the degree depends on how many users are there using USD. So, yes it will affect Bitcoin.

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May 21, 2017, 08:32:54 AM
 #24

While there are billions of people from the third world countries who line up everyday to buy every single piece of USD there is, USD can't fall. Even if the USA goes bankrupt, its money (USD) will always have a value because of those people.

Here is another thing; If USD fails (or falls), the other FIAT currencies will go down with it. If you really had to use the phrase "too big to fail" one day, you should use it for USD, not even Deutsche Bank.

And if we talk about bitcoin... Bitcoin's value is still pegged to USD. Just like Gold. One cannot exist without the other. However, bitcoin has a huge advantage of being mobile over gold. People don't use gold for buying stuff in this age, they only hold it because it has a storage value. Bitcoin has that storage value just because it is bitcoin and it did something the others never did before, so bitcoin will have a historical value from now on no matter what happens, plus, we can use bitcoins to buy actual stuff -unlike gold. So, if bitcoins becomes big enough it may replace every other fiat currency there is. (If it replaces USD, it replaces the others too) This also means there won't be any borders between the countries, because there will be only one country with one currency.

1- USD can't fall.
2- Bitcoin can't replace USD unless bitcoin becomes thee USD.
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May 21, 2017, 09:25:07 AM
 #25

Actually is not going to affect bitcoin at all, but it will seems like bitcoin become more expensive in dollar, we only used dollar as the exchange rate, if we change it to other currency then it won't affect bitcoin at all, fiat won't have any effect on bitcoin

The fall of any of the existing fiat currencies wouldn't have any effect on Bitcoin including the US dollar. You might be using the dollar as the exchange for your Bitcoin but it's not th same with everybody. We can as well change from the Bitcoin to dogecoin, litecoin, Ethereum etc.



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May 21, 2017, 09:46:20 AM
 #26

Like many powerful currencies in the past, USD may fall to ground too, my question is will that effect BTC value? Or is it independent of all other real world or non digital currencies of the world?
The value of Bitcoin will not change if USD falls to the ground. It is like right now. 1 Bitcoin is worth 2000 USD, but worth 2700 AUD. Bitcoin will just be worth more USD when USD falls.
Yeah that is pretty much all that will happen. The value of Bitcoin will not be affected but the price of Bitcoin will increase, if you are talking about USD.

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May 21, 2017, 10:00:04 AM
 #27

I'm not sure if the dollar falls it will affect the bitcoin price directly. Because both I think differently, as far as I know if the dollar falls it will affect the value of other currencies. As in the economic crisis a few years ago when the dollar price fell a lot of people who store wealth with gold, maybe that's also with bitcoin. So when the dollar falls a lot of people are storing wealth with bitcoin and certainly indirectly adoption of bitcoin increases and maybe prices will rise.

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May 21, 2017, 10:21:59 AM
 #28

USD is as many other major currencies one of the primary pillars that hold the economy... BUT we can see that many factors make the USDollar index fall down rapidly as a lot of them is being printed and bonds are being released, the Inflation of these major currencies is the problem...
I believe that many people will see this as a threat prices will be constantly big and big and people will start questioning: "Is it even worth buying this with dollar, what IF I can use another less inflated currency than USD?!" and that's where the Bitcoin and other altcoins come in. God bless cryptoworld!
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May 21, 2017, 02:25:45 PM
 #29

It would be safe to assume that there would be so increase. During time of economic uncertainty, people start buying items they believe would still appreciate in value, or at least wouldn't lose value as much, so that their property would still be safe. One of those is bitcoins, which despite a few problems is starting to look good. For example, it is very easy to take with you, in case you ever need to move out of your country.

Like many powerful currencies in the past, USD may fall to ground too, my question is will that effect BTC value? Or is it independent of all other real world or non digital currencies of the world?

Bitcoin is independent. We just have to look at the purchasing power of Bitcoin, not its value in USD terms.
More than anything, if the USD falls there will be a vacuum at the world level. If Bitcoin's adoption is high enough, Bitcoin may fill that vacuum.

I hope so. The high transaction fees and long confirmation time seem to be hindering it though.

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May 21, 2017, 02:36:17 PM
 #30

In the past when ever their is any downfall in USD most of them just switch it to gold, silver  as this are always alternative to main currency, but now the scenario is different after seeing the potential of bitcoin and more country coming forward and accepting bitcoin and more over bitcoin is considered as investment option so who ever knows about cryptocurrency will surely switch to this coins to invest it to get safe from USD downfall
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May 21, 2017, 02:41:16 PM
 #31

Like many powerful currencies in the past, USD may fall to ground too, my question is will that effect BTC value? Or is it independent of all other real world or non digital currencies of the world?
Bitcoin is theortical independent of USD. It prices and ecosystem depends upon its usage, demand, supply and other factors. But the whole world is directly or partially related to each other. How can we say bitcoin is independent of USD when the easiest way to acquire bitcoin is buying it for USD!

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May 21, 2017, 02:51:25 PM
 #32

Well in the first place Bitcoin's value is based on Fiat Currency which means if USD goes down it might as well make Bitcoin's USD equivalent go down as well. And I don't think that the first priority of USD investors is exchanging their assets to Bitcoin as they are looking for another Fiat currency alternative that is much more stable than a cryptocurrency. Also on a market perspective one market in this case a currency of a develop country will also influence other currencies in a bad way.

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May 21, 2017, 05:01:46 PM
 #33

Bitcoin is independent regarding FIAT currencies and their values. Bitcoin is impacted by other things, like news what happens in the crypto world, supply and demand, selling and buying, trading etc. The problem with USD is if the Trump problems are not solved it will continue to go down for the moment but I don't think anymore down than this. Eur is 1.12 USD. No room for more falling of the dollar as eurozone economy is not that great compared to the USA.

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May 21, 2017, 05:07:11 PM
 #34

Like many powerful currencies in the past, USD may fall to ground too, my question is will that effect BTC value? Or is it independent of all other real world or non digital currencies of the world?

This is a good question.
Look we are just using the USD to define bitcoin price not its value. If the EURO dont fall we could use that also.
But as regards to the fall of USD it will affect much. I dont know what could happen. It will either increase or decrease the value of bitcoin.
If people sees how much a fall USD takes they will rely on other commodities to still make their money rolling. Commodities dont rely with USD they are also just priced with USD because of its popularity in the market.


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May 21, 2017, 08:35:55 PM
 #35

Like many powerful currencies in the past, USD may fall to ground too, my question is will that effect BTC value? Or is it independent of all other real world or non digital currencies of the world?

An absolute no.

USD is not the key that dictates the value of bitcoin. Though the conversion of bitcoin to fiat is reflected in terms of dollars, dollar is just the reference and not the sole value indicator. Bitcoin's value is dependent on the demand and supply of bitcoin in the market so regardless of the reference, bitcoin will not change in value if the reference decreased/increased in value. It is just like the exchange in fiat (currency), if a currency inflates/deflates it will not affect any currency's value.

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May 21, 2017, 09:38:57 PM
 #36

Like many powerful currencies in the past, USD may fall to ground too, my question is will that effect BTC value? Or is it independent of all other real world or non digital currencies of the world?

An absolute no.

USD is not the key that dictates the value of bitcoin. Though the conversion of bitcoin to fiat is reflected in terms of dollars, dollar is just the reference and not the sole value indicator. Bitcoin's value is dependent on the demand and supply of bitcoin in the market so regardless of the reference, bitcoin will not change in value if the reference decreased/increased in value. It is just like the exchange in fiat (currency), if a currency inflates/deflates it will not affect any currency's value.

Fantastic explanation, it should be made clear to all that Bitcoin is totally independent of ever Altcoin or fiat currency and no matter how it's demand or supply may turn out its value is determined as a result and not by what happens to the USD.

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May 22, 2017, 02:53:39 AM
 #37

USD falling? Expect hikes as people rush to dump their money into bitcoins. It's a no-brainer. When your currency is falling you'll move your money to assets that'd still appreciate or at least would be able to retain the value. Aside from the traditional metals, Bitcoin has also become a viable alternative.

Could this also be the reason people are buying those stupid-looking paintings?  Grin
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May 22, 2017, 05:09:42 AM
 #38

Like many powerful currencies in the past, USD may fall to ground too, my question is will that effect BTC value? Or is it independent of all other real world or non digital currencies of the world?
Me if usd falls has no effect on bitcoin.

Because bitcoin stock exchange.
So bitcoin has no effect on usd.
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May 22, 2017, 05:30:53 AM
 #39

Like many powerful currencies in the past, USD may fall to ground too, my question is will that effect BTC value? Or is it independent of all other real world or non digital currencies of the world?

If USD failed, I believe it will affect BTC value since there will be lots of Americans to escape the negative impact of the event and will move on to cyrptocurrency, probably bitcoin.  This will make Bitcoin price to grow exponentially because USD value is decreasing and Bitcoin value is increasing.  But in terms of value, it won't affect Bitcoin because bitcoin is not pegged in dollar.


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May 22, 2017, 06:23:33 AM
 #40

It will have no effect because the two are totally independent of each other and whiles Bitcoin is normally exchanged for the US dollar and vice versa it is not controlled by a central agency like the US dollar and therefore its prices are basically regulated by the demand and supply of the coins I. The system.



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